The Inter-American Development Bank today launched a mobile application designed to increase transparency and competition in the bidding process for infrastructure projects it finances in Latin America and the Caribbean.
The app provides access to information on upcoming IDB-financed procurements in sectors such as energy, transportation, and water and sanitation, while facilitating the connection between infrastructure developers and local suppliers of goods and services.
The IDB generates close to 500 bids totaling more than $3 billion in infrastructure contracts per year. For infrastructure developers in the region and around the world, it is difficult to access bidding opportunities in a timely manner, and often they are unfamiliar with local companies with which they can work.
A 1 percent reduction in logistics costs could increase exports for countries in the region by up to 8 percent.
"Build the Americas is an extremely important tool for infrastru
